For young professional athletes entering the NFL, grasping the team playbook may seem like the most difficult learning process that they will undertake in their rookie seasons. The bigger shock for many young players however may be their tax return. The tax returns for most people are relatively straightforward. A professional athlete’s situation is much […]
One of the biggest issues facing NFL players today is finding honest and reputable financial advisors who can help them create a sound financial strategy to invest their money. All too often our “Sunday Heroes” are surrounded by family members, con artists and sleazy investment peddlers that all want a piece of their contract. As […]
In 2009, Sports Illustrated published an article titled How (and Why) Athletes Go Broke, in which they uncovered the shockingly common story of high earning, professional athletes going broke. “Within five years of retiring, approximately 60% of former NBA players have gone broke. The numbers are even worse for NFL players, many of whom don’t play […]
Draft day in the NFL has become a celebrated national event. As ESPN and NFL Network cameras are rolling, young men with fresh haircuts and sharp suits step up to the podium and are greeted by NFL commissioner Roger Goodell. Moments later, America’s newest millionaires are surrounded by family, showered with smiles, hugs and tears […]
Part of the promise of living the “American Dream,” is being provided the freedom to pursue prosperity and success through hard work. As Americans we are granted the personal liberty to determine our own path in life. Our structure as a capitalist society supports a path to financial freedom. The vast majority will not become […]
Are you familiar with umbrella insurance policies? Chances are, you may not be, so I wanted to share some insights on how these powerful policies can help you protect your wealth in the event of an accident or liability. Basic Insurance Coverage Most people with basic automobile and homeowner’s insurance policies feel fairly certain that […]
The basic premise of asset protection is to be able to prevent access to your assets in the event of a money judgement. There are many techniques you can utilize to protect your assets including insurance, entity structuring, and even off-shoring. It is important to have a comprehensive wealth management and protection strategy.
Young professional athletes often become rich quick, sometimes even right out of high school. They are completely inexperienced with budgeting large sums of money successfully. The new wealth that is acquired all of a sudden can be exciting, but also overwhelming.
Though professional athletes are elated at the prospect of their sudden wealth, most lack financial planning knowledge, and often turn to friends or family for advice…This can be a recipe for disaster.
Research has shown 70 percent of pro athletes are broke five years after retiring…
The tax reporting season for income earned in 2012 is rapidly coming to a close, but the opportunity for tax sheltering some of that income remains open until April 15th. Many people fail to take advantage of this unique provision in IRS tax laws, which can make a positive impact to you as a taxpayer […]
The media might have you believe that the only way to get rich is to get rich quickly. That’s partially because of our obsession with conspicuous wealth. We see people with huge houses and assume that this was an effortless purchase displaying quickly obtained wealth. However, this isn’t necessarily the case. Many businesses spend everything […]
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Rob Gabridge, CPA, CFP®
I’m Rob Gabridge, a Certified Public Accountant (CPA) and a CERTIFIED FINANCIAL PLANNER™ (CFP®) helping my clients adopt integrated and comprehensive wealth management strategies.
- 10 Core Components of a Comprehensive Wealth Management Strategy May 23, 2012
- What is Comprehensive Wealth Management? May 18, 2012
- What is Your Investment Policy? October 1, 2012
- The Right Kind of Financial Advisor for Professional Athletes January 14, 2013
- Why There’s a Push to go to Donor-Advised Funds Before 2013 December 14, 2012
- Should You Change Your Investment Strategy Now? November 19, 2012
- Financial Planning for Professional Athletes April 19, 2013
- The Taxation Playbook for NFL Players October 11, 2013
- Get Rich Quick Schemes: The Hail Mary of Investing Strategies September 10, 2013
- Why So Many Professional Athletes Go Broke August 12, 2013
- Financial Pressure From Family and Friends July 22, 2013
- Potential vs. Actual Wealth July 11, 2013
- What is an Umbrella Insurance Policy and Do You Need One? May 29, 2013
- Beware of the Gold Diggers May 16, 2013
Follow @robgabridge on Twitter